Love this game so much. Gameplay, graphics, presentation, music. All amazing.
one thing i think that helps Kameo hold up visually as well as it does is that the game features high res textures with solid bump mapping. even today lots of releases feature pretty low resolution assets. high res textures really help paste over the cracks that other games start to show with age as lighting and poly counts et al date.
full 720p framebuffer usage (and i think it had some good MSAA) certainly help it hold up as well.
Yeah, it feels like we've gone a bit back from the start of this gen. In Kameo we had all you said, 100s of Ogres on screen and amazing depth of field. DOA4 had highly detailed graphics, 60fps, online records, lobbies, 2on2 online and so much other stuff that no fighter has matched still. PDZ (yes i know it's hated) but it's still top tier in terms of content. 32 player online, online bots, bot replacement, secondary fire on every weapon, specialised game modes, Even a L4D style mode which seems to have exploded in popularity recently.
We'll see these features again early next-gen, only to have them dissapear at some point. And then devs will hype them yet again at the start of another gen.